Here are Tuesday's biggest analyst calls of the day: Micron, Zoom, Disney, Ulta, Beyond Meat & more

Published Tue, Mar 2 20218:13 AM ESTUpdated Tue, Mar 2 20218:41 AM EST

Key Points

Citi upgraded TripAdvisor to buy from neutral.
Piper Sandler upgraded Zoom overweight from equal weight.
Wells Fargo upgraded Dow Chemical to overweight from equal weight.
Evercore IS raised its price target on Micron to $135 from $105.
Bank of America named Disney as a favorite reopening idea.
Citi upgraded Beyond Meat to buy from neutral.
William Blair added Ulta to the near-term focus list.
Williams Trading downgraded Foot Locker to hold from buy.
Macquarie upgraded Carnival, Royal Caribbean, and Norwegian to outperform from neutral.

Here are the biggest calls on Wall Street on Tuesday: Citi upgraded TripAdvisor to buy from neutral Citi upgraded the online travel website and said it was bullish on the company's new subscription product, Plus." "We were initially skeptical about Plus, the firm's new subscription offering currently in beta. After working through the math and potential adoption rates, we are more optimistic. We estimate Plus could attract 10 million subs, creating an additional $1 billion of high-margin revenue. As such, we are upgrading our rating on Tripadvisor from Neutral to Buy and raising our target price to $62." Piper Sandler upgraded Zoom overweight from equal weight Piper upgraded the teleconferencing company after its strong earnings report and said the stock has more room to run. " Zoom reported a very strong end to FY21 and better than feared initial FY22 guidance, with Zoom Phone adoption and continued wins in Meetings both contributing to the upside. With the strong FQ4, FY22 guide setup, and multiple secular tailwinds behind the business, we are upgrading Zoom from Neutral to OW and increasing our PT to $541 and admit 'better late, than never.'" Wells Fargo upgraded Dow Chemical to overweight from equal weight Wells Fargo upgraded the chemical company and said it sees earnings "upside" especially after the recent winter storms. "We are upgrading DOW from Equal Weight to Overweight as we believe the combination of strong demand and the impact from the recent Winter Storm Uri supply will drive upside to earnings in 2021E." Evercore IS raised its price target on Micron to $135 from $105 Evercore ISI raised its price target on Micron to a Wall Street high and said the stock was "incredibly cheap." "Moreover, with expectations for DRAM revenues to outgrow the overall Semiconductor industry combined with cycle-to-cycle improvements in Micron 's revenues, margins, EPS, and FCF, we think Micron at only ~1.2x replacement value screens incredibly cheap (still). " Bank of America named Disney as a favorite reopening idea Bank of America said Disney was "well-positioned" for a reopening after its CEO spoke of the company's "underlying momentum" at its recent investor conference. " Disney CEO Bob Chapek presented at an investor conference on March 1st and reiterated his confidence in the company's underlying momentum as well as the opportunity to reaccelerate fundamentals as the economy reopens. ... .We reaffirm our view that Disney is well positioned for a reopening in the economy and the company's comments give us increased confidence in our bullish thesis." Citi upgraded Beyond Meat to buy from neutral Citi upgraded the alternative meat company after its "disappointing" earnings report and said the "bad news" was already priced in. "With much of the bad news already well-known (and we believe largely priced into the stock), and given our new-found enthusiasm for the longer-term story at BYND given their recent new partnerships with PEP, MCD and YUM! Brands, we are upgrading the stock to Buy." William Blair added Ulta to the near-term focus list William Blair added Ulta to its near-term focus list and said it should emerge stronger from the coronavirus pandemic. "We are adding Ulta Beauty to the Consumer Near-Term Focus List, reflecting the company's strong franchise quality, the likelihood of a substantial rebound in the cosmetics category in particular over the next couple years as consumers gradually emerge from the pandemic, likelihood of solid near-term results and longer-term growth, and a reasonable to attractive valuation relative to more normalized earnings." Williams Trading downgraded Foot Locker to hold from buy Williams Trading downgraded Foot Locke r mainly due to valuation and rising competition. "Take a breather. Apparent market-share loss to competitors, and perhaps to some of it largest vendors, not the 4Q revenue miss, a 2.7% decrease in same store sales, as compared the consensus expectation for a 4.9% increase, moves us away." Macquarie upgraded Carnival, Royal Caribbean, and Norwegian to outperform from neutral Macquarie upgraded several of the cruise line companies and said the "negative catalysts" were now in the "rear-view mirror." "We upgrade the cruise lines from N to OP as we see a positive catalyst horizon. We aggregated ~1,000 available sailings with departures before July for insights into each operator's respective strategies and relative exposure. On valuation, we see most upside for NCLH followed by CCL and then RCL ."

Fans gather at local Ulta Beauty in Houston to greet Kylie Jenner at the launch of her cosmetics line on November 18, 2018 in Houston, Texas.

Rick Kern | Getty Images

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